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Make sure your tax affairs are in order by 30 September says HMRC

Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC

The two events, held in Rojales along with Teulada/Moraira, were well attended by UK citizens keen to know the latest legislation which may affect them. Attendees also had the opportunity to ask questions.

HMRC_meeting_Rojales_-_2__1_.jpg  Make sure your tax affairs are in order by 30 September says HMRC HMRC meeting Rojales   2  1

The representatives by HMRC gave an overview of what kind of assets may need to be declared, such as income by renting a property out within the UK or UK government pensions received abroad, along with explained how to start the declaration process. During the question along with answer session at the end, HMRC also took the time to listen to UK nationals’ concerns around filling in tax returns whilst overseas along with clarifying points around the Spain/UK double taxation agreement, which they committed to feeding back within the UK.

British Consul, Sarah-Jane Morris, who attended both events said: “I’m truly pleased which HMRC has come to This specific area, where so many British Nationals live. The talks were very informative along with I desire those who attended will help spread the word which which is actually important to ensure your tax affairs are in order. More information can be found on the ahref=”http://gov.uk/” target=”_blank”> gov.uk website which I urge British nationals resident in Spain to check”.

As part of the British Government’s “Requirement to Correct” legislation, UK taxpayers must make sure which all their foreign income along with assets, where they might be tax to pay, have been declared to HMRC before 30 September 2018.

by 1 October 2018, fresh, substantially higher penalties will apply for those who have failed to pay all the tax due on foreign income along with assets. The vast majority of people along with businesses pay the right amount of tax. The fresh legislation is actually aimed at those who fail to pay tax on their offshore income or assets.

If you are concerned which you haven’t told HMRC about foreign income or assets, or which you have transferred income abroad without paying UK tax on which, you should notify HMRC before 30 September 2018. You could also consider taking independent professional advice before deciding what to do next.

Anyone who might like more information on the fresh “requirement to correct” UK law, can look online on the gov uk at: https://www.gov.uk/guidance/requirement-to-correct-tax-due-on-offshore-assets

To start the process of declaring overseas assets please visit: https://www.gov.uk/guidance/worldwide-disclosure-facility-make-a-disclosure

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Make sure your tax affairs are in order by 30 September says HMRC

Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC
Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC
Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC
Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC

Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC

Make Sure Your Tax Affairs Are In Order By 30 September Says HMRC

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